According to a new study conducted by Barclays, UK consumers will spend more on gifts this Christmas, although practical presents are expected to top the average festive shopping list.
The survey also revealed 52% of retailers said they felt more confident about Christmas trading this year with 55% expecting spending to increase compared to Christmas 2012.
Richard Lowe, head of retail & wholesale at Barclays said: “Christmas Day may be one of only two days a year when retailers are not physically able to throw open their doors, but that won’t stop consumers bagging sales bargains online. This means more festive cheer for retailers looking to maximise sales during the all-important Christmas period.”
Nearly two thirds of high street retailers surveyed said that they expected website traffic to increase by 11% on Mega Monday on 2 December. Retailers also predicted that the most popular gifts this year were most likely to be mobile devices, gadgets and beauty products.
